AOL To Acquire Global Social Media Network Bebo

Mar 21, 2008

AOL announced that it has entered into an agreement to acquire Bebo, a global social media network. Together with its AIM and ICQ personal communications network, the acquisition is intended to give AOL a premier position in the fast growing world of social media with a network of approximately 80 million unique users. Bebo is a global social media network which combines community, self-expression, and entertainment to enable its users to consume, create, discover, and share content. Under the terms of the agreement, AOL will acquire Bebo for $850 million in cash.